Attorneys at Simpson Thacher & Bartlett have won a huge, three-year-long battle for MasterCard and against Visa. MasterCard was challenging a Visa bylaw that forced its largest debit card issuers to pay a large penalty for switching their business to a competitor. U.S. District Judge Barbara Jones of the Southern District of New York ruled that a service fee Visa places on its debit card issuers basically deters them from taking their business to a competitor, making it illegal.
June 21, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Visa was on the receiving end of a judicial curbing when attorneys at Simpson Thacher & Bartlett won a huge, three-year-long battle for their client MasterCard.
The credit card company was challenging a Visa bylaw that forced its largest debit card issuers to pay a large penalty for switching their business to a competitor.
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